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Rental loss carryover
In 2021, I rented out two properties. They each had a loss. I moved into one of the properties in 2021 and I'm still renting out the other one. For my 2022 taxes, am I allowed to use the carrover loss for the property I moved into in 2021 to offset the gains of the property I rented out in 2022? In TurboTax, for rentals, I need to delete the property I'm not renting out in 2022 and when I do that it removes the carryover loss. I had previously, maybe in error, thought that I could use my past property's rental net loss to offset other properties' rental gains in future years.
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March 4, 2023
12:40 AM